unregulated broker

[alistera]

Here's the thing, have you ever heard crap rolling up hill, those non-regulated brokers oddly work if you have $100s, if you have used them before with some level of trust then to $1,000s.

Above that capital the other brokers kick in, there was a stupid thread last week about IG vs IB, the bigger the company and the less capital that you have, the more crap that can roll down hill when it goes wrong, for example IB have a wonderful habit of doubling margins without notice in volatility.

Very simply if you make profits with low capital these no-regulated brokers can work because they're kind of on the same level, but as very few ever make any profits in the markets in the end a regulated broker for everyone will always be the way to go.

 

[Good1]

Right! No broker in the US is non-regulated.

Anyone/business that tries to circumvent regulation likely has "something up his sleeve besides his arm"... that he doesn't want the authorities to know about. Doing business with such a person/business carries much more than "markets risk".

In 2014 one of the top offshore unregulated crypto exchanges was BTC-e. So advanced was their platform they had a worm hole you could go into to get hooked up with yet another exchange that was offering 3x leverage, and i think that was for both long or short.

It all worked very well until one day we logged onto the site to find a big FBI badge on the site. They had found the owner(s) somehow overseas and arrested them, and siezed the site, AND everybody's assets. I was fortunate not to have anything on there at the time, but i imagine they grabbed a lot of crypto from people who were not doing anything illegal with it.

I tend to disagree they necessarily have anything up their sleeve. The US is a land of over-regulation and over-reach. For one thing, you can't short crypto with any US regulated exchange except the Futures monopoly. So no, i think it is mainly that US that has things up it's sleeve, notwithstanding outliers like Scam Bankman Fraud. Ok Crypsty may have been fraudulent, but generally, if a business makes a profit, the operators don't have any motivation to mess with customer funds and kill the goose that lays the golden egg. You'd have to be a total greedy idiot.

Update on BTC-e:
Bitcoin From Defunct BTC-e Exchange on the Move Again: Report (coindesk.com)

Possibly the FBI did not get it's greedy hands on all of the BTC that was there at the time.

 

[eleanorK80]

May I ask their name and why would you do that?

a friend recommended and he has an account by them and is satisfied. you know offered a high leverage and bounus.

 

[eleanorK80]

Right! No broker in the US is non-regulated.

Anyone/business that tries to circumvent regulation likely has "something up his sleeve besides his arm"... that he doesn't want the authorities to know about. Doing business with such a person/business carries much more than "markets risk".

I'm not certain. They're acceptable to my friend. he received the profit, everything is fine. the regulation is something i am thinking about although everything is fine with them.

 

[eleanorK80]

Do not deposit any new funds and take out the funds that were deposited.
Be it the lack of choices when it comes to brokers, or good fees, - it ain't worth it.

You don't want to lose the game, before you even begun. Try doing, whatever you're doing, via banks then. Those offer investing services as well.

And in case it is forex, then get your money out and forget about it.

Thanks for your advice )))

 

[eleanorK80]

No I have never tried with an unregulated broker and if I were you, I would pull out my money NOW or as soon as you have a chance. When the broker is unregulated, they can do whatever they want since there is no one overseeing them and you are basically at their mercy. They can be all fine and dandy at the moment, all formal and professional but they can disappear in a second without a moment's notice and you will never see your money again. Consider yourself warned.

i really appreciate your advice. thanks. i guess i should do that.

 

[eleanorK80]

You mean a Bookie? Pinnacle.com

what do you mean?

 

[eleanorK80]

Here's the thing, have you ever heard crap rolling up hill, those non-regulated brokers oddly work if you have $100s, if you have used them before with some level of trust then to $1,000s.

Above that capital the other brokers kick in, there was a stupid thread last week about IG vs IB, the bigger the company and the less capital that you have, the more crap that can roll down hill when it goes wrong, for example IB have a wonderful habit of doubling margins without notice in volatility.

Very simply if you make profits with low capital these no-regulated brokers can work because they're kind of on the same level, but as very few ever make any profits in the markets in the end a regulated broker for everyone will always be the way to go.

Got it. Basically, some non-regulated brokers can be okay if you're starting out with low capital